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HSBC has reduced its number of branches in the New York area and is building smaller branches elsewhere. Officials say mobile banking eliminates the need for expensive large branches. In addition, as HSBC focuses on its wealth-management business, "personalized relationship managers" call on wealthier customers at home or in their offices.

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Third Federal Savings and Loan, Fifth Third Bancorp and U.S. Bancorp took the top three spots in a recent study of bank branch effectiveness among large Ohio banks. The study gauged deposits per branch, deposit growth and other factors.

With the stock markets on an upward trend, money-management firms such as BlackRock and Charles Schwab are seeing booming business. "Clients are looking for more advice from asset managers than ever before," BlackRock CEO Larry Fink said. "Whether it was the financial crisis or just the scale of the asset-management industry, we now have a voice." Wealth-management units within banks are also reporting strong results.

More banks are adding to their wealth-management services to help generate fees at a time of low interest rates and weak loan demand. "It's a natural opportunity for banks to tell customers they can do more than a savings account and to offer an investment account," said Tom Nist, a professor of finance and investment management at Duquesne University.

KeyCorp is poised to acquire 37 branches from First Niagara Financial Group. The branches are part of First Niagara's previous agreement to purchase 195 bank branches from HSBC Holdings. As part of an antitrust agreement with the Department of Justice, Niagara Financial had to divest itself of some of those branches.

Mark Branson, CFO of the global wealth-management division of UBS, told a US Senate subcommittee that the company will no longer offer Americans offshore-banking services through non-US branches. "We have decided to exit entirely the business in question," Branson said. "UBS will no longer provide offshore banking or securities services to US residents through our bank branches. Such services will only be provided to residents of this country through companies licensed in the United States."